Col. Ralston's sweeping series of tax measures have two purposes. first to produce revenue, and second to conserve foreign exchange. Taxes directed at the former, in addition to levies on incomes, are an amended and increased excess profits tax and additional taxes on cigars, cigarettes. tobacco, motor car tyres, radios. radio tubes, cameras, phonographs. ingredients of soft drinks and tea.
With a view to conserving foreign exchange, Canadians will have to nay highly for the privilege of buying high-priced automobiles largely imverted or made from imported parts, and will have to pay a 10 per cent. tax on all goods imported from non-Empire countries, in addition to existing customs duties.
In explaining the budget, the Minister said: "The proposals are an attempt to meet the crisis in terms of taxation. They bear upon all cla&sés in the community. If the taxation provisions are the most drastic that have ever been imposed upon this country, they are certainly mo more drastic than the present hour and the present need demand. The future may well demand still more. I ask those who think they are too drastic to bring both their common sense and their idealism to the rescue of their opinions.'
He further stated "Common sense will ask them what would become of their property or their income if Germany and Italy should conquer the British Empire. Idealism will teach them that money and material things are as nothing compared with the freedom and dignity which it g as a benediction to The death of the Honourable Norman Rogers, former Minister of Defence, in an air crash recently, rendered it necessary for the Government to appoint a new Minister, and Col. Ralston, who delivered his budget to the House, has been appointed to take his place. Col. Ralston has a splendid war record, and after having delivered his budget to take care of the war efforts of the Dominion will, it is believed, carry on his new duties as efficiently as he has carried out the old.
Col James Layton Ralston,. P.C., CING. D.S.O. (with Bar) is a He was overseas with the Battalion as a Major in 1916, went to France in February, 1917, serving continuously until the Armi-stick. In addition to winning the CING. and D.S.O. with Bar, he was mentioned twice in despatches, and was gazetted as a colonel in April, 1924.
Text read from the printed page and cleaned; old type leaves the occasional error.